The article is devoted to the study of the features of the sale of property in the procedure of bankruptcy. The author has disclosed the nature of the auction of the respective bidding procedure and formulated four interrelated stages of the auction: pre-preparatory, preparatory, organizational and formal stages. Each stage of the auction was analyzed. The components of the prepreparatory phase are: inventory and valuation of property, formation of the liquidation mass, approval of the program of action of the liquidator, obtaining consent of the secured creditor for the realization of the pledged property, competition for the organizer of the auction. At the same time the author describes in detail the legal status of the mortgaged property. The preparatory stage includes the following stages: the conclusion of a contract with the organizer of the auction, the publication of the announcement of the auction, the acceptance of applications for participation in the auction, the introduction of guarantee contributions by the participants in the auction. Disclosing the organizational stage at which all previous preparatory actions are implemented and the winner is determined who is entitled to conclude the contract and the design stage, which includes: drawing up a protocol, signing a purchase agreement, paying the full cost of the price and transferring the property, the author analyzes in detail the grounds for recognizing the auction as such that it did not take place, the grounds for annulling the auction, the recognition of the results of the auction as invalid, and the procedure for applying again and second re-auctions, sales integral property complex parts.